Trying to raise my kids the best I can

Monday, January 19, 2009

The low down on the economic crisis

This is the best explanation I could find about the housing crisis.

The other two main causes of this economic crisis (in my opinion) are the:

deregulation of futures trading (like oil) by this bill:
"Commodity Futures Modernization Act of 2000" now known as the "Enron Loophole"
This is causing the outrageous oil prices which are not consistent with supply and demand.

And the deregulation of banks with this bill:
"Gramm-Leach-Billey law passed in 1999"

which led to the bailout mess.

Both of those were pretty much the doings of Republicans if anyone is looking to place blame- which I'm not. But I am interested in knowing who is trying to fix this mess and voting for those people. Right now the people trying to fix the "Enron Loophole" are Democrats. Most recently Bill Nelson (D) of Florida

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